Pennsylvania insurers IBC, Highmark withdraw merger plan

Philadelphia Inquirer, January 22, 2009

The petition for the proposed merger of Philadelphia's Independence Blue Cross and Pittsburgh's Highmark Inc., the state's two largest health insurers, was withdrawn by the companies. The decision by Independence and Highmark came in advance of what they knew would be an adverse ruling by the Pennsylvania Department of Insurance. The proposed merger would have created the state's largest health insurer and one of the largest in the nation.